Candriam S.C.A. Purchases 1,457 Shares of Broadridge Financial Solutions, Inc. $BR

Candriam S.C.A. grew its position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 9.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,004 shares of the business services provider’s stock after buying an additional 1,457 shares during the quarter. Candriam S.C.A.’s holdings in Broadridge Financial Solutions were worth $4,133,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Farther Finance Advisors LLC lifted its holdings in Broadridge Financial Solutions by 56.1% during the second quarter. Farther Finance Advisors LLC now owns 5,530 shares of the business services provider’s stock worth $1,344,000 after acquiring an additional 1,987 shares in the last quarter. Nordea Investment Management AB raised its position in shares of Broadridge Financial Solutions by 40.8% during the second quarter. Nordea Investment Management AB now owns 220,314 shares of the business services provider’s stock worth $52,900,000 after purchasing an additional 63,798 shares during the period. Parkside Financial Bank & Trust lifted its holdings in shares of Broadridge Financial Solutions by 62.5% during the 2nd quarter. Parkside Financial Bank & Trust now owns 689 shares of the business services provider’s stock valued at $167,000 after purchasing an additional 265 shares in the last quarter. Triangle Securities Wealth Management bought a new position in shares of Broadridge Financial Solutions during the 2nd quarter valued at about $784,000. Finally, Achmea Investment Management B.V. grew its position in shares of Broadridge Financial Solutions by 13.1% in the 2nd quarter. Achmea Investment Management B.V. now owns 5,880 shares of the business services provider’s stock valued at $1,429,000 after purchasing an additional 682 shares during the period. Institutional investors and hedge funds own 90.03% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on BR. Wall Street Zen upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Needham & Company LLC increased their price objective on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. DA Davidson reaffirmed a “neutral” rating and issued a $240.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, October 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Broadridge Financial Solutions in a research note on Tuesday. Finally, UBS Group lowered their target price on Broadridge Financial Solutions from $280.00 to $250.00 and set a “neutral” rating for the company in a report on Thursday. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $259.83.

Broadridge Financial Solutions Stock Performance

Shares of BR opened at $225.92 on Friday. The stock has a market capitalization of $26.37 billion, a price-to-earnings ratio of 28.93 and a beta of 0.96. Broadridge Financial Solutions, Inc. has a 12 month low of $212.33 and a 12 month high of $271.91. The firm has a fifty day simple moving average of $233.79 and a 200 day simple moving average of $241.29. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.06.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Thursday, March 3rd. The business services provider reported $0.73 earnings per share (EPS) for the quarter. Broadridge Financial Solutions had a net margin of 13.11% and a return on equity of 43.28%. The firm had revenue of $1.05 billion for the quarter. Research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Friday, December 12th will be issued a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, December 12th. Broadridge Financial Solutions’s dividend payout ratio is presently 49.94%.

Insider Buying and Selling

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 5,674 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $258.37, for a total value of $1,465,991.38. Following the completion of the transaction, the chief executive officer directly owned 143,285 shares in the company, valued at $37,020,545.45. This trade represents a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.10% of the company’s stock.

About Broadridge Financial Solutions

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry. The company's Investor Communication Solutions segment processes and distributes proxy materials to investors in equity securities and mutual funds, as well as facilitates related vote processing services; and distributes regulatory reports, class action, and corporate action/reorganization event information, as well as tax reporting solutions.